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FINANCIAL NEWS
Kuwait’s KIPCO plans real estate project worth USD5b
14 Sep 2015
(MENAFN) Kuwait Projects Co. (KIPCO), the country’s largest private sector investment firm, is planning a USD5 billion real estate scheme on the outskirts of Kuwait City, KIPCO’s vice chairman said.
The 380,000-square-metre project is planned for the Al-Daiya area where several foreign embassies are located, vice chairman said in an interview with Al-Qabas newspaper.
United Real Estate, a unit of KIPCO, will be responsible for implementation. KIPCO aims to present its plans to regulators in the coming days and to begin implementation this year.
“The project is considered the largest and most important in Kuwait, especially in the real estate sector,” vice chairman said in the interview.
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